Managers Show Quarterly Holdings; Buffett Buys MasterCard Stake
May 16 2011 - 5:51PM
Dow Jones News
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) took a
stake in MasterCard Inc. (MA) in the first quarter, while Steven
Cohen's SAC Capital increased stakes in retail and consumer
services companies, according to a pair of regulatory filings on
Monday.
Berkshire Hathaway, one of the world's most closely followed
investment vehicles, disclosed it held 216,000 MasterCard shares.
The holding, which comes as a new investment manager took over a
chunk of the company's $115 billion portfolio, is valued at about
$60 million based on Monday's closing share price.
Cohen, whose SAC Capital reported a 9.3% increase in securities
holdings in the quarter ended March 31, increased a stake in
consumer electronics retailer Best Buy Co. (BBY) to 2.3 million
shares from 53,306 at the end of the previous quarter. SAC also
more than doubled its stake in BJ's Wholesale Club Inc. (BJ) to 2.8
million shares from 1.1 million.
The disclosures are part of a quarterly filing requirement for
investors who manage more than $100 million. The form, known as a
13F, must be filed within 45 days of the end of each quarter. Many
money managers wait until the last possible moment to submit their
filings, which give the public its freshest possible glimpse into
the portfolios of well-known money managers.
Berkshire said it had omitted some information on its holdings
in the filing, an action some investment managers take when they're
building a new position.
The addition of MasterCard to the portfolio could be the work of
Todd Combs, the former hedge-fund manager who was tapped by Buffett
to manage a portfolio of about $2 billion to $3 billion at
Berkshire. Combs was selected as the company prepares for the day
the 80-year-old Buffett will no longer run Berkshire.
Berkshire also disclosed a reduced stake in oil producer
ConocoPhillips (COP), trimming the holding less than 1% to about 29
million shares.
SAC also raised its stakes in insurers: Chubb Corp. (CB)
holdings were up to 2.3 million shares from 24,198, while XL Group
PL (XL) holdings were at 4.4 million shares from 239,564.
-By Erik Holm, Dow Jones Newswires; 212-416-2892;
erik.holm@dowjones.com
XL Fleet (NYSE:XL)
Historical Stock Chart
From Mar 2024 to Apr 2024
XL Fleet (NYSE:XL)
Historical Stock Chart
From Apr 2023 to Apr 2024